Streetbeat News

COIN

Coinbase Global, Inc.

https://www.coinbase.com

Industry

Software - Application

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global, Inc. was founded in 2012 and is based in Wilmington, Delaware.

Open

282.51

Mkt cap

77B

Volume

18M

High

306.45

P/E Ratio

52.02

52-wk high

334.86

Low

276.02

Div yield

N/A

52-wk low

94.90

Short sellers faced significant losses in 2023, with a total of $194.9 billion evaporated due to a market surge. The technology and consumer discretionary sectors were particularly damaging, with the Vanguard Information Technology ETF (VGT) and Consumer Discretionary Select Sector SPDR Fund (XLY) seeing gains of 44.7% and 33.4%, respectively. Tesla (TSLA), Nvidia (NVDA), and Apple (AAPL) were the least profitable short positions, while shorting in the cryptocurrency space, including Coinbase (COIN), was also unprofitable. Conversely, short sellers profited from bankruptcies, notably First Republic Bank and Silicon Valley Bank, and from shorting pharmaceutical companies Moderna (MRNA) and Pfizer (PFE), which failed to capitalize on the weight-loss drug trend.

Portfolio Pulse from Neil Dennis

January 05, 2024 | 2:25 pm

The SEC is using a favorable judgment in the Terraform Labs case to strengthen its legal actions against Coinbase and Binance. The SEC's lawsuit against Coinbase cites a group of tokens it believes should be classified as unregistered securities, while in a separate case against Binance, the SEC is leveraging the same judgment to support its arguments against Binance's stablecoin BUSD and other services.

Portfolio Pulse from Murtuza Merchant

January 04, 2024 | 10:05 pm

The Cboe BZX Exchange, Inc has approved the listing application for the ARK 21Shares Bitcoin ETF, which will trade under the ticker symbol 'ARKB'. This ETF is related to the cryptocurrency market and is expected to track the performance of Bitcoin.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 6:26 pm

Crypto stocks are trading higher in correlation with an increase in the price of Bitcoin, indicating a positive market sentiment towards cryptocurrencies.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 6:06 pm

Ark Invest, led by Cathie Wood, has made significant trades by purchasing approximately $25 million in Tesla Inc (TSLA) shares and selling a nearly equal amount in Coinbase Global Inc. (COIN) shares. The transactions were conducted through ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW). The Tesla purchase reflects Ark's confidence in Tesla's AI and Cybertruck prospects, while the Coinbase sale coincides with a drop in Bitcoin's value following regulatory concerns.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 2:36 am

The article emphasizes the benefits of long-term investing, taking inspiration from Warren Buffett's approach. It argues against the pessimistic predictions of a recession and market lows, highlighting that markets have historically trended upwards. The article suggests buying and holding core stocks/ETFs like SPY, QQQ, and VOO, which are near all-time highs, regardless of market conditions. It also mentions the success of buying speculative stocks like COIN over time, which has seen a significant increase since 2022's drop.

Portfolio Pulse from Thrash Capital

January 03, 2024 | 4:32 pm

Bitcoin celebrates its 15th birthday with 15 fun facts, highlighting its history, impact on companies like Coinbase (NASDAQ:COIN), and the potential for Bitcoin ETFs. The article mentions the first Bitcoin purchase, Ethereum's co-founder's early involvement with Bitcoin, lost Bitcoin wallets, the anonymous creator Satoshi Nakamoto, and the influence of Bitcoin on companies like Tesla (NASDAQ:TSLA) and Block Inc (NYSE:SQ). It also discusses the pending approval of Bitcoin ETFs, including Grayscale Bitcoin Trust's (OTC:GBTC) potential conversion into an ETF.

Portfolio Pulse from Chris Katje

January 03, 2024 | 3:33 pm

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 3:17 pm

Swaggy Stocks has listed the top 10 trending stocks on WallStreetBets as of January 3, 2024. The list includes MARA, CORN, COIN, BTCUSD, TSLA, QQQ, NVDA, AAPL, RIOT, and AMD.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 2:16 pm

Ark Invest, led by Cathie Wood, purchased $16.9 million worth of Roku Inc (ROKU) shares, despite recent analyst skepticism about the company's revenue growth and market competition. The shares were bought across multiple Ark ETFs, including ARKF, ARKK, and ARKW. Additionally, Ark sold shares of Coinbase (COIN), Robinhood (HOOD), Exact Sciences (EXAS), and Stratasys (SSYS), while buying shares of Recursion Pharmaceuticals (RXRX) and Rocket Lab USA (RKLB).

Portfolio Pulse from Benzinga Neuro

January 03, 2024 | 2:54 am

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.